At the same time, more than 100 startups have achieved unicorn status, he said at an event organized by the Jain International Trade Organization (JITO).
As global leaders and technology voices come together for the AI Impact Summit, he said these impressive global rankings and the sheer number of high-quality startups reflect the innovation, job creation and world-class enterprises emerging from all corners of India.
Speaking to investors and mentors at ILLUMIN8, JITO’s national startup initiative, Kovind said, “Businesses and values are not opposites, but partners. Profit and purpose must move forward together.”
The Jain principles reflect a deep understanding that a society that focuses only on profits but neglects values may progress for some time but will gradually lose its way, he noted.
On the other hand, he said, wealth that serves society becomes meaningful and business rooted in ethics becomes sustainable.
Speaking on the occasion, Jeenendra Bhandari, Chairman, JITO Incubation and Innovation Foundation, said India’s startup story is no longer just about valuation. It is about value creation for the real economy.
The government’s continued commitment, including initiatives like the Startup India Fund 2.0, sends a strong message that risk-taking and innovation are not only tolerated but also encouraged. India’s founders are not just building companies but also building economic momentum, jobs and global competitiveness, he added.
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